GD4.5.1 MacOS Universal custom editor works but template doesn't

Godot Version

4.5.1

Question

When I use scons to build a custom editor (using an AES key) as a universal binary, that works fine.
When I use it to build the template_release as a univeral binary, it doesn’t work - but the invidual binaries that would go into it do.
The error is “You can’t open the application “(name)” because it may be damaged or incomplete.”

Anyone seen this one? I’m a bit confused how the editor.app build part works when the template.app build doesn’t.

No errors or anything, compiles very nicely:

scons platform=macos arch=arm64 precision=double -j4 production=yes target=template_release generate_bundle=yes
scons: Reading SConscript files …
Building for macOS 11.0+.
MoltenVK found at: /Users/lpg/VulkanSDK/1.4.313.1/macOS/lib/MoltenVK.xcframework
Building for platform “macos”, architecture “arm64”, target “template_release”.

*** IMPORTANT: Compiling Godot with custom SCRIPT_AES256_ENCRYPTION_KEY set as environment variable.
*** Make sure to use templates compiled with this key when exporting a project with encryption.

scons: done reading SConscript files.
scons: Building targets …
[ 72%] Linking Program bin/godot.macos.template_release.double.arm64 …
[100%] Generating platform/macos/generate_bundle …
[100%] scons: done building targets.
INFO: Time elapsed: 00:00:36.96

Produces a zip file with the template, the arm64 file to go with the x86_64 from the prior step, and a fat file.

Building the editor the same way produces the same files, but doesn’t produce a zip, instead produces just the editor.app file.

Maybe related?